| Institution Type | Bank |
| Is this institution regulated? | Yes |
| Website address | http://www.nbsmw.com/ |
| Year established | 2004 |
| Head of Institution | John S Biziwick |
| Regions active | Lilongwe, Rumphi, Blantyre, Mulanje |
| # Branches | 3 |
| Total Portfolio (nat'l) | MWK 380,000,000 |
| Total Portfolio (USD) | USD 974,358.97 |
| Active clients with loans | 1,000 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | |
| Funders |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ordinary SME Loan | MWK 200,000 - 1,500,000 | 1 - 24 | 0% - 20% | 20% - 40% | Business, Can be used for ANY business use | Women, Men, Have business, Specific age group, Fixed business or residential place, Produce business records or bank statements | Credit Educ, Tech Asst Visits, Business Training, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ordinary SME Loan | 24.00%-36.00% annual, Decl Bal | 1 Fee | 0 | None | N/A | 37.9% - 38.3% | 37.9% - 38.3% | 63 |
| Outstanding portfolio (INR) | INR 14,765,576,299 |
| Portfolio (USD) | USD 278,595,779.20 |
| Active Clients with Loans | 851,819 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Group Based Individual Lending |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | x |
| Other | Group Leadership Training |
| Other (2) | Financial Literacy & Social Awareness |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Household income <60,000 INR | x |
| Household income <120,000 INR | x |
| Must live in rural area | x |
| Must lives in urban area | x |
| Other | Must be 18 years to 60 years |
| Other (2) |
| # Regions for this institution | 18 |
| # Regions for this product | 19 |
| Regions Active | Assam, Bihar, Chhattisgarh, Gujarat, HaryanaJharkhand, Madhya Pradesh, Maharashtra, Meghalaya, Orissa, Rajasthan, Sikkim, Tripura, Uttar Pradesh, Uttarakhand, West Bengal, Andaman and Nicobar IslandsDadra and Nagar Haveli, National Capital Territory of Delhi |
| Currency | INR |
| Minimum loan size | INR 16,000 |
| Maximum loan size | 50,000 |
| Loans less than INR 5,000 | 0 |
| INR 5,000-15,000 | 0 |
| INR 15,000-25,000 | 70% |
| INR 25,000-35,000 | 20% |
| INR 35,000-45,000 | 5% |
| Greater than INR 45,000 | 5% |
| Shortest loan term | 24.0 months |
| Longest loan term | 24.0 months |
| Approx average | 24.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 100% |
| Grace period usage | 100% |
| Average grace period | 0.3 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | x |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 22.90% |
| Highest quoted nominal interest | 22.90% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Service Tax Extra |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Life Insurance |
| % of loan amount - min | 0.47% |
| % of loan amount - max | 0.97% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | 4.68 / 9.68 Rs per thousand of loan for 1 and 2 year respectively |
| Appears on Repayment Sched? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| Minimum interest rate paid | N/A |
| Maximum interest rate paid | N/A |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | Yes |
| Percentage of fees | 12.4% |
| All or some fees taxed | Some |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | INR 18,000 | INR 30,000 | INR 40,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-10-16 | 2012-10-05 | 2012-10-17 | ||
| Loan Term (Months) | 25.0 months | 24.0 months | 25.0 months | ||
| Grace Period (Months) | -0.5 months | -0.8 months | 0.2 months | ||
| Total Cost of Credit | INR 4,879.49 | INR 8,092.48 | INR 10,785.64 | ||
| True Price by Comp | |||||
| Interest price component | 22.5% | 22.9% | 22.5% | ||
| Fee Component | 1.0% | 1.1% | 1.0% | ||
| Insurance Component | 1.0% | 1.1% | 1.1% | ||
| Tax Component | 0.2% | 0.1% | 0.1% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 24.7% | 25.2% | 24.7% | ||
| MFIN MFI Earning (Annualised) | 23.5% | 24.0% | 23.5% | ||
| MFIN Cost to Borrower (Annualised) | 24.7% | 25.2% | 24.7% | ||
| Transparency Index | 93 | 91 | 93 | ||
| MFIN Transparency Index | 100 | 100 | 100 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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